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Step 1
Heat a large non-stick frying pan over high heat. Drizzle beef with oil and season to taste. Cook beef, turning occasionally, until just seared (5-6 minutes).
Step 2
Transfer beef to a tray and cool slightly. Roll beef tightly in plastic wrap and freeze until firm (2-3 hours).
Step 3
Meanwhile, for dressing, heat oil in a small saucepan over low heat until just warmed through (30 seconds). Place ginger and shallot in a small heatproof bowl; pour hot oil over. Add vinegar and stir to combine. Season to taste.
Step 4
Thinly slice beef across the grain and arrange on a platter. Top with fennel, figs and watercress. Serve drizzled with dressing. Scatter with peppercorns.